Credit, Collections & Insolvency News
Extra Energy, an energy supplier with about 108,000 domestic and 21,000 business customers, has ceased trading. It becomes the sixth energy company to cease trading this year. The other suppliers to cease trading this year were: Future Energy ( January) National Gas and Power (July) Iresa (July) Gen4U (September) Usio Energy (October) Under Ofgem’s safety…
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Payment solution specialist Acquired Payments has announced that they have signed on Keaton Jennings, opening batsman for England Cricket, as a brand ambassador, the partnership comes on the eve of his second century for England. Acquired’s revolutionary payments solution gives merchants the competitive advantage. Acquired securely process card payments via web, mobile and virtual terminals,…
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Business process outsourcing and operational transformation provider, Target Group, has signed up to the Women in Finance Charter, an initiative from HM Treasury to build a more balanced and fair financial services industry. The charter sets out three principles to improve gender balance across all levels of financial services – committing firms to support the…
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New Irish association The Receivables Management Services Association (RMSA) has released the first review of the Irish collections industry. The Review looks at the size of the current market, the debt levels in the SME sector and the reasons why more businesses are not using the services of collections companies. The review (launched in partnership with…
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The number of debt judgments in Jersey fell by almost a third during the third quarter of the year compared to the same period of 2017, according to figures released today by Registry Trust. However the average value of judgments increased by 84 percent compared to the third quarter of last year. In Q3 2018,…
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The total number of defaults and small claims judgments issued in Northern Ireland during the third quarter of the year was 1,711, a historic low for any quarter, according to figures released today by Registry Trust. In the third quarter of 2018, the number of small claims judgments fell by 22 percent and the average…
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Debt Buying members of the Credit Services Association (CSA), the voice of the debt collection and debt purchase sectors, are on target to contribute at least £25.5 million in voluntary ‘Fair Share’ payments in 2018* to help fund free-to-customer debt advisers This is an increase on the 2017 total of £23 million which at the…
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2018 has probably been the busiest year for consumer asset sale in the UK since 2008. Speak to any major debt purchaser and they will advise you of the increase in assessing portfolios, pricing calculations and on-boarding customers. Many creditors have used asset sale as part of their process for a number of years. However,…
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A whitepaper released by Mitek and authored by Fintech research practice Autonomous NEXT found that the opportunity is ripe for digital lenders to grow – if they continue to invest in digitisation. The whitepaper, entitled ‘European Digital Lenders: How operating efficiency is helping digital lenders attack a $150 billion annual origination market across the Eurozone in 2018’, looked…
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Anti-money laundering (AML) specialist SmartSearch has been named as one of the world’s most innovative financial technology solution providers by RegTech Analyst for the second year running. Each year, specialist research firm RegTech Analyst releases the RegTech 100 list, which recognizes the world’s 100 most pioneering companies that are transforming compliance, risk management and cybersecurity.…
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Debt Purchaser, Lantern, has announced that it has achieved a Silver Award from Investor in Customer (IIC) having passed through their assessment process. Lantern, who were first assessed last year, gained an IIC Silver in 2017 and have maintained that standard. Danny Pickering, Director of Smile Customer Experience, who facilitated the assessment on behalf of…
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One in five Brits now never carries cash, a study has found. Researchers who polled 2,000 UK adults found many are now opting to pay using different methods such as chip and pin and smartphone payments. Half believe cash is ‘on the way out’ and will ‘soon’ be superseded by alternative ways of paying for…
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Up to 18 million mobile phone customers are paying additional costs in order to stay connected, totalling over £64 million nationwide, for additional smartphone data, according to research from comparethemarket.com. Exclusive new research, found that 44% of consumers with a monthly mobile phone contract, have gone over their allocated data allowance before the end of…
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